So far this year, every "Magnificent Seven" stock has produced double-digit returns except for one: Amazon. Once the face of growth stocks, Amazon has lagged over the past year, frustrating its investors along the way. Despite that retreat, Amazon may be positioned to bounce back in 2026.

Shares of Amazon (NASDAQ:AMZN) edged up more than 3% on Thursday, as Truist Securities projected robust growth for internet and digital media stocks in 2026, led by the e-commerce giant. Analyst Youssef Squali cited durable secular growth drivers,

On the charts, Amazon stock has chopped lower since its Nov. 3 record high of $258.60. The equity is still up 1.9% in the last month despite the recent tech selloff, however, and looks like it could soon stage a short-term bounce.

Even with strong financial results recently, Amazon has failed to make much ground from a valuation perspective. The company's share price is up just 3% year to date despite a gain of 16% for the S&P 500 and a gain of 20% for the Nasdaq. Is Amazon still a top long-term buy or is the stock dead money?

Amazon (AMZN) closed the most recent trading day at $226.79, moving +2.49% from the previous trading session. The stock's change was more than the S&P 500's daily gain of 0.79%. Elsewhere, the Dow gained 0.

By moving aggressively against Flipkart and Reliance in a key battleground while matching multibillion‑dollar AI commitments from other US tech

A combination of infrastructure leverage and services revenue is exactly the kind of optionality Wall Street tends to reward with higher valuations.

"The lead negotiator for Amazon called me on Thursday," Fermi CEO Toby Neugebauer told Business Insider. The deal would pay more than $20 billion over the next 20 years, he said.

Affirm Holdings ( AFRM) stock rose to its highest level in a month on Tuesday after management said it renewed its partnership pact with Amazon ( AMZN) for about five more years.

Amazon reorganizes parts of its business to accelerate innovation in AI, custom chip development, and quantum computing.

Amazon.com, Inc. (NASDAQ:AMZN) is included among the 12 Best Long Term US Stocks to Buy Now. On December 16, BMO Capital raised its price target on Amazon.com, Inc. (NASDAQ:AMZN) to $304 from $300 and kept an Outperform rating on the stock.